Warning: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk
If you’re thinking about applying for a personal loan online, Cashflex could help you search for a suitable option.
An online loan is a sum of money borrowed from a lender, which is applied for over the internet. A loan could be an option to consider if you’re faced with a financial emergency, such as an unscheduled bill or urgent home repairs that cannot wait.
In the past, those wanting to apply for a loan would need to physically go into a branch on the high street. Modern technology has made it more convenient for people to search for a loan at a time and place that suits them, whether that’s on the train to work or at home.
Many lenders are able to process your loan application entirely online, although some may require you to go into a local branch to complete the relevant checks.
If you’re in urgent need of money, you may find yourself asking ‘how can I get a loan easily online?’.
It’s worth noting that there are no ‘easy to get’ loans.
When you apply for a loan, the lender will carry out an affordability check, which will give them an idea of how likely you are to be able to repay the money you’re applying to borrow. Depending on the type of affordability check, the lender may look into your credit history or at your recent financial transactions.
Having a good credit score could better your chances of being approved for a loan, although acceptance isn’t guaranteed.
Cashflex is a credit broker, not a lender. We work with a large panel of trusted lenders and could help you search for a suitable loan to tide you over in the event of an unexpected expense.
Cashflex’s form can be completed online 24 hours a day, 7 days a week.
The Cashflex FastCheck tool could reveal how likely you are to be approved for an online loan before you apply.
FastCheck is free to use, can be completed online in under five minutes, and won’t affect your credit score in any way.*
*Cashflex uses soft search technology to search for a loan with no impact to your credit score. If you’re matched with a lender and choose to make a full application for a loan, a hard search will be carried out. A hard search will remain on your credit file for up to 12 months, and undergoing multiple hard searches within a short period of time could damage your credit score.
Some of the lenders on the Cashflex panel use Open Banking as part of their affordability check process. Open Banking is a secure way of providing a lender with a more recent and accurate picture of your financial situation.
With Cashflex, you can search for a short-term personal loan between £100 and £10,000, with repayment terms from 3 to 60 months, depending on the amount of money you apply to borrow.
Each lender will have their own eligibility requirements which you must meet before you make an application. While criteria varies between lenders, you can generally apply for a loan if you:
You can search for a loan with Cashflex if you meet the above criteria.
It might be possible for you to get a bad credit loan online.
Some lenders, including a number of those on the Cashflex panel, are willing to consider applications from people with poor credit history, although you should think very carefully before applying.
A bad credit loan could come with a higher interest rate. In addition to this, having a low credit score could affect your chances of being approved to borrow the amount of money that you need. You may be offered a lower amount, which might not cover the cost of the expense.
Searching for a loan with Cashflex is straightforward. Our online form makes it convenient to search for a loan at a time and place that suits you.
1.Tell us how much money you need to borrow and choose your ideal repayment term. Our online form should take no longer than five minutes to complete.
2.We’ll run a soft search on your credit history and scan our panel of lenders for a loan that may be suitable for you.
3. If we’re able to match you with a lender, you’ll be redirected to their website. Please be aware that being matched with a lender does not guarantee acceptance, as the lender will be required to carry out some additional checks, including a hard search.
4. If the lender is happy with the outcome of their checks, you will be sent a loan agreement.
5. Before deciding whether to sign and return, you should take the time to read through the agreement and make sure you’re happy with the terms and conditions.
Financial emergencies are stressful, and when faced with one, it can be very easy to panic and go with the first option you see. A loan might be suitable for you, but it isn’t the only option to consider. Be sure to take a step back before making a decision. A loan is a serious financial commitment; you should think carefully about the cost of repayments and the impact this will have on your monthly budget. Your loan repayments should never affect your ability to cover the cost of your essential outgoings, such as rent or mortgage, bills, and food.
You should only go ahead and apply for a loan if you’re 100% certain that it’s affordable for you.
If your application for a loan is approved, your money could be sent today, although this will depend on the lender. It’s also important to remember that the time it takes for the money to appear in your account will depend on your bank’s policies and procedures.
Finding yourself in a position where you’re unable to repay your loan can feel scary. We understand that contacting your lender may be the last thing you feel like doing, but please know that it’s the first step towards taking back control of your finances and getting your confidence back.
Your lender is not there to judge your situation; they will appreciate the fact that you’ve reached out and will work with you to put a plan in place moving forward.
Charities and organisations such as StepChange, MoneyHelper, Citizens Advice, and National Debtline offer free, confidential advice on a range of financial topics, including debt management.
Over 18
You'll need proof that you are over 18.
Bank Account
Hold a valid UK bank account.
Income
Have evidence of a regular income and UK residency.
Try our FastCheck tool with no impact to your credit score
Our tool allows you to calculate your chance of being accepted for a loan.
Check out what our trusted customers had to say.
Representative example: Amount of credit: £1000 for 12 months at £134.94 per month. Total amount repayable of £1,619.26 Interest: £619.26. Interest rate: 99.9% p.a. (fixed). Representative 99.9% APR.
We’re a fully regulated and authorised credit broker and not a lender.